BrandShield Systems (AIM: BRSD)  has officially announced its admission to trading on the AIM market of the LSE following the reverse takeover of Two Shields Investments.

The number of ordinary shares in issue immediately after Admission will be 114,136,532, giving the company a market capitalisation of around £22.8m at a price of 20p per share. The dealings in the ordinary shares commenced at 08.00am this morning.

As part of its admission, the company raised £3.2 million, before expenses, via a placing of, and subscription for 16,000,000 new ordinary shares at an issue price of 20p per share which will be used to capitalise on the increasing number of new business opportunities it sees. 

According to MarketsandMarkets, the rapidly growing global cyber threat intelligence market is estimated to grow to $12.9bn by 2023, at a compound annual growth rate of almost 20%.

Software firm, BrandShield, which is a provider of cybersecurity solutions ranging from brand protection to online threat hunting, can detect online threats and take them down. Its client base includes a growing list of organisations including Fortune 500 and FTSE100 companies.

BrandShield uses AI and big-data analysis to monitor, detect, and remove online threats facing companies including social phishing, executive impersonation, fraud and brand abuse.

"This is an exciting day for BrandShield. During 2020, there has been an acceleration in interest in BrandShield with the growth in online criminal activity,” said CEO, Yoav Keren.

The company highlighted that its annual recurring revenue from new business signed during the first six months of 2020 was ‘almost equivalent’ to that seen in the whole of 2019. 

He added, “The demand for our market-leading services, which can remove the online threats that cause companies significant financial and reputational damage, is only going to expand. 

We intend to use our listing to build our business and become the premier provider in the market helping companies deal with online threats.”

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